A pivot would seem a logical and efficient approach here.
If we assume content of Col C changes but M:O does not then I would be inclined to do the following:
Now, via your Excel Options -> Advanced -> General Section (towards bottom) -> Edit Custom Lists: create a new Custom List by Importing M4:M60 as the source
Now, create a Pivot table off M3:P60 and set FOUND as Page Field / Report Filter (to be set to TRUE) and ITEM as Row Field / Label.
The Pivot should sort the Found items per M3:M60 order (by virtue of your new Custom List).
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